Online property Isa secures £1.3m funding

The first UK firm to offer an online property Isa has secured £1.3m of funding from Zoopla and venture capitalist Robert Klein, according to the Telegraph.

Bricklane.com allows those with £100 or more to invest in rental properties in Birmingham, Leeds and Manchester.

The investments track house prices and the investors get a percentage of the rents.

Bricklane.com founder Simon Heawood says the firm wants to help first-time buyers get houses, and that his firm aims to acquire and manage homes.

The firm claims an investment of £1,000 five years ago would have earned investors an annual total return of 6.3 per cent.

Klein says: “They’re solving a real problem in that people want to be on the housing ladder, and people feel that if they’re not on the ladder or have some investment in the residential market then they’ll be left behind.”